MISMO General Session
January 14, 2008
Ron Duff, 2007-08 Governance Committee Chair
Nancee Gorenstein, 2007-08 Governance Committee Vice-Chair
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Agenda
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Welcome and IPR Statement
Organization Review
2008 Governance Priorities
2007/2008 Standards Activities
MISMO Infrastructure Update
January 2008 Trimester Activities
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
IPR and Antitrust Policies
• By participating in this meeting you are
agreeing to be bound by MISMO’s IPR
(Intellectual Property Rights) policy which
can be found at www.mismo.org
• All meetings are conducted in accordance
with MISMO’s Antitrust Policy
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Organization Review
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Organization
Board of Directors
Commercial
LDD
Steering
Committee
eMortgage
Origination
Servicing
Core Data
Document
Classification
CMSA IRP
Appraisal
Insurance
Property
Inspection
Environmental &
PCA Reports
Governance
Architecture
Council of Chairs
Enveloping
Commercial Architecture
Information Security
SISAC
Logical
Data
Dictionary
Core Data Structures
CMSA
Government
Residential Process Area Workgroups
Origination
Underwriting
Real Estate Services
Credit
Flood
Mortgage App
Closing
Real Estate
Property
Information
Appraisal
Institute
Hazard
Fraud Detection
Title
ALTA
Secondary
Servicing
Technical Infrastructure
Document
Classification
Industry Guidance
Tax
MI
Multi-Services
eMortgage
Business Rules
Exchange
Doc / Data Mapping
Data Transactions
Legal
SPeRS
PRIA
Government Housing
MISMO Board of Directors
• MISMO is a wholly-owned subsidiary of the
Mortgage Bankers Association – a 501(c)6
corporation
• Board of Directors
 Catherine Rodewald, Managing Director, Prudential
Capital (Chair)
 Bill Frazer, SVP, CBRE | Melody
 Dawn Gibbs, CEO FICS
 Steve Gozdan, CFO/COO Cenlar FSB
 (Open Seat - Residential)
 Jim Cooke (Ex-Officio, Governance Representative)
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
BoD Strategic Objectives
• Regain Securitization Market
• Improve Data Quality
• Improve Data Purity
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Governance Committee
• 24 Representatives Elected by Subscriber Companies
 16 from Residential Mortgage Industry
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4 Lenders/Brokers
2 Servicing Technology
2 Origination Technology
1 Mortgage Insurance Company
1 Credit Company
2 Technology Vendors
2 Service Providers
2 Government Sponsored Enterprises (GSEs)
 4 from Commercial (MultiFamily) Mortgage Industry
 2 Primary Market Participants
 1 Investor
 1 Vendor
 2 At-Large
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2008-09 Governance Committee
RESIDENTIAL
• Credit Company
• Lenders/Brokers
 GMAC Rescap-Dave Erkes
 Quicken Loans-Patrick Hartford
 Wells Fargo-Michael Levine
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 Fiserv-Ron Duff
 Fidelity (FNIS)-Randy Gillis
• Origination Technology
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 MGIC-Nancee Gorenstein
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Wolters Kluwer Financial
Services-Roger Gudobba
Dexma-Gretchen Peterson
Service Providers
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 Gallagher Financial ServicesChris Anderson,
 Dynatek-Todd Luhtanen
• Mortgage Insurance Company
Technology Vendors
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• Servicing Technology
Equifax Mortgage Services-Paul
Wills
First American Real Estate
Services-Tom Payne
American Land Title AssociationKelly Romeo
GSEs
Freddie Mac-Ted Adams Fannie Mae-David ColemanMISMO Trimester Meeting
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January 14-17, 2008 Orlando, Florida
2008-09 Governance Committee
COMMERCIAL
AT-LARGE
• Primary Market Participants
• MERS-Dan McLaughlin
• Mortgage Cadence-Gabe Minton
 Midland Loan Services-Robert
Wright
 Wendy Sadeh, Bridger
Commercial Funding
• Secondary Market Investor
 Babson Capital ManagementJoanne Denver
• Vendor
 Jim Cooke, Ballard Spahr
Andrews & Ingersoll, LLP
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Council of Chairs
• Formed in January, 2006
 Maturity and increased adoption create need
for collaboration and process
• One member from each MISMO WG
• Work Request Guidelines/Tracking
 Discuss collaborative issues
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2007-08 Council of Chairs
• XML Architecture-Dave Krause
• Core Data/Structures-Ted
Adams
• Enveloping-Pritish Jacob
• Origination-Denise Lawrence
• Secondary-Mark Friend
• Servicing-Mark Friend
• Multi-Services-Eric Mayling
• Credit Reporting-Paul Wills
• Flood-Beth Martel
• Fraud Detection-Ruth Eller
• Hazard Detection-Dick Taylor
• Mortgage Insurance-Mike
Fleck
• REPI-John Cirincione
• Tax-Diane Columbo
• Title Insurance-Charles
Epperson
• Business Rules-John Liston
• Doc Class-Rick Moseley
• eMCIT-Rachel Sokolowski
• Info Security-John Simon
• eMortgage-Patrick Hartford
• Government Housing-Dan
Kahn
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Subscribers
• 148 Subscriber Companies (as of 01/09/08)
 Have access to current and archived information on
MISMO website
 Have username and password access to private
workgroup areas of team collaboration website (using
Microsoft SharePoint technology)
 Can vote on key issues & leadership
 Are waived meeting fees for the trimester meetings
 May be elected to a seat on the Governance
Committee, serve as Workgroup Chairs, etc.
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Staff
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Doug Duncan, President
Dan Szparaga, Acting Executive Vice President
Harry Gardner, Vice President
Malikah Crable, Subscriptions & Events
Dave Krause, Director, Architecture &
MXCompliance
• RJ Schlecht, Director, Information Security
• Colleen Wesling, Director, MISMO Programs
• Gloria Zimmer, Director, MISMO Standards
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2008 Governance Priorities
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2008 Focus
• Focus for 2008 remains in three core areas:
 Organization: enhance the organization to align with
the subscriber base and their business priorities and
goals
 Standards: continue to maintain existing standards
but focus on the release of standards in the 3.0
architecture
 Adoption: attain greater adoption of the MISMO
standards within the industry
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2008 Priorities - Organization
• Organizational Subgroup
Ensures that the operation and structure of the organization is
aligned to its overall goals and positioned to support the work
of its volunteers
• High Level Goals
 Implement common project methodology to be used by the
organization (including all workgroups) including the revised work
request and status reporting framework via MISMO WIKI
 Review and revise as necessary the job descriptions for
Governance members, Work Group chairs, and participants. Focus
will be roles and responsibilities
 Continue to enhance the role of the Council of Chairs
 Ensure Face-to-Face Trimester Meeting structure maximizes
volunteer time/effort
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2008 Priorities - Standards
• Begin execution of the 3.0 plan
 Complete “reference model” that holds all transactions together,
finish reconciliation 1
 Finalize the 3.0 architecture
 Develop plan for transaction delivery from workgroups
 Define, finalize and implement deliverable requirements for
standards approval process
• Expand eMortgage standards and utilization
 Support the expansion of eMortgage standards and utilization
 Focus on adoption
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2008 Priorities - Adoption
• Increase MXCompliance Certifications
 Increase transaction set that has certification
 Communicate the value to the industry
 Increase compliance and adoption through RFP process
• Develop Outreach Program
 Variable communication plan based on targeted audience
message points re: MISMO
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Participation
Membership
Adoption
Etc….
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
2007/08 Standards Activities
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Standards Approved in 2007
• Credit Reporting v2.4 (January)
 Credit Reissue Reporting Recommendation (March)
• ISWG Whitepaper (January)
 Identifying and Safeguarding Personal Information
• eMortgage Specifications
 eSigned PDF Guidelines v1.0 (February)
 eMortgage Package v2.4 (February/Errata - April)
• Errata Releases
 AUS v2.4 Errata (April)
 Enveloping v2.4 Errata (June)
 Closing v2.4 Errata (April)
• REPI Valuation Request v2.4 (May)
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Approved Standards
and 30-day IPR Status
• Commercial Standards – Version 1.1 (May)
 Commercial Environmental Site Assessment ESA_Synopsis
v1.1
 Commercial Work Order Request and Response v1.1
(WORR)
 Commercial Document Classification v1.1
• URLA Mapping to MISMO Closing v2.4
• PRIA Request and Response v2.4.2 (http://www.pria.us/ )
• Credit Reporting v2.4.1 (30-day IPR period)
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Commercial MISMO Activities
Version 1.2 Releases – February 2008
• Commercial Environmental & PCA Reports
 PCA Synopsis, Seismic Synopsis, Work Order Request (WORR)
• CMSA Investor Reporting Package (IRP)
• Servicing Transfer Core Transaction v1.1
• Commercial eMortgage Whitepaper
 (Digital Signature Requirements for Commercial Entities)
• Commercial Architecture Best Practices Guide v1.1
• Commercial Originations - Rent Rolls and Lease Abstracts
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Infrastructure Update
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Infrastructure Support
• New Web site live since September
• Lyris listserv
 45 Listservs with over 2500 active participants
• SharePoint
 User accounts available for MISMO subscribers
• Contivo VMS Repository and Builder Pro
• Adobe Breeze/Connect Web Sharing
• Wiki Collaboration Platform
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MXCompliance
• Certifications available
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Credit Request and Response
MI Application Request and Response
AUS
Flood Request and Response
• Fourteen companies are certified with
forty-one certifications awarded
• More workgroups in process of submitting
certification requirements
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MXCompliance Certifications Update
• Associated Software
Consultants (ASC)*
• Axcess Americas, LLC*
• Bixby Consulting, Inc.*
• Dexma, Inc.*
• Digital Matrix Systems
• Dynatek*
• Fair Isaac Corporation
* Multiple Certifications
• FICS*
• First American Flood Data
Services *
• Fiserv Lending Solutions*
• Gallagher Financial
Systems*
• iLOG, Inc.*
• Merge Power, Inc.
• Mortgage Guaranty
Insurance Corporation*
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Security Activities
• Risk mitigation techniques for Appraiser
authentication and appraisal integrity.
• Security recommendation for messaging
protocol (WS SOAP)
• Monitor Federal and State privacy legislation &
regulations
• Industry Compliance education; Pay Card
Industry Data Security Standards (PCI/DSS)
• Secure Identity Standardization (SISAC) related
to MERS eRegistry and National Notary
Association (NNA)
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Related Industry Standards Efforts
• SISAC—RJ Schlecht
 Secure Identity Services Accreditation Corporation
• PRIA—Mark Ladd
 Property Records Industry Association
• NAR/RETS—Paul Stusiak
 National Association of Realtors
 Real Estate Transaction Standards
• Appraisal Institute—John Cirincione
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
January 2008 Trimester Activities
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
eMortgage Current Efforts
• Published Whitepaper
• Updated SMART Doc 2.0
• Updated Documentation (eMortgage Guide,
Closing Guide, and Vaulting Guide)
• Created Links to eRecording and eNotarization
Standards through PRIA
• Sent Survey out to Industry Leaders
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Workgroup Activities
• XML Architecture-Dave Krause
 Core Data Structures-Ted Adams
 Enveloping (Transport and Routing)-Pritish Jacob
 eMCIT (Packaging)-Rachael Sokolowski
• Information Security-John Simon
• Document Classification-Rick Moseley
• Origination-Denise Lawrence
 Automated Underwriting & Closing
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Workgroup Activities, Cont’d
• Real Estate Services:
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Credit-Paul Wills/ Mike Bixby
Flood-Beth Martel
Fraud Detection-Ruth Eller/ Bill Parker
Mortgage Insurance-Mike Fleck
Property Records-Mark Ladd
Real Estate Property Information-John Cirincione
Real Estate Tax-Diane Columbo
Title-Charles Epperson
Multi-Services-Eric Mayling
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Workgroup Activities, Cont’d
• Secondary-Mark Friend
• Servicing-Mark Friend
• Business Rules Exchange (BREW)-John
Liston
• Government Housing-Dan Kahn
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Sponsor Program
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Thanks to our 2008 Sponsors
FiServ Lending Solutions
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Salutes its 2007 Sponsors
JANUARY 2007
• First American Corporation
• FICS
• Wells Fargo Home Mortgage
MAY 2007
• Fannie Mae
• Freddie Mac
• Wells Fargo Home Mortgage
• PRIA
SEPTEMBER 2007
• Midland Loan Services,
Inc.
• Stewart Transaction
Solutions
• Mortgage Cadence
• Encomia, LP
SPECIAL EVENTS
• Document Systems, Inc.
• IndyMac Bank
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
MISMO Sponsorship Update
• MISMO sponsorship opportunities include five
levels* (and Selected Individual Events)
 Gold . . . . . . . . . . $ 10,000
 Silver . . . . . . . $ 5,000
 Bronze . . . . . . . . $ 2,500
 Contributing . . . .$ 1,000
 Single Event . . . . As Arranged
*Other denominations are gratefully accepted. Please contact MISMO for more
specific information.
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Upcoming MISMO Meetings
 May 19-22, 2008, Minneapolis, MN (Tentative)
 September, 2008, Location TBD
Contact Malikah Crable at MBA
mcrable@mortgagebankers.org
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida
Questions?
MISMO Trimester Meeting
January 14-17, 2008 Orlando, Florida